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Dec 5, 2012
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for millions of people the 2001 tax bill only change the name of the tax that i the name of the tax that i pay. i got very little benefit from the rate reduction because i was shifted over but in my opinion it has nothing to do the absence of the index but a result of the conscious vision to hide the cost as the bush tax cuts to be that amt in place >>host: the highest amt is 20% but after 2001 if the tax rate was lowered a to defy% used had to pay a mts backtracked but incomes between 200 north that is hitting the 35% rate and the end comes are lower than the levels at which you would hit the 35% rate. there is a bazaar rate structure. >>host: why is it called a patch? >>guest: one time, year by year, patch, of the broad expansion. you could say why do they call it a cliff? [laughter] it is discussed in a terms of apache and it is a year by year increase. of the patches nothing but an increase of the exemption to prevent tens of millions of people to be forced to fallout their return. what makes this critical in the discussion is weird talking about the package for 2012 i'd like the res
for millions of people the 2001 tax bill only change the name of the tax that i the name of the tax that i pay. i got very little benefit from the rate reduction because i was shifted over but in my opinion it has nothing to do the absence of the index but a result of the conscious vision to hide the cost as the bush tax cuts to be that amt in place >>host: the highest amt is 20% but after 2001 if the tax rate was lowered a to defy% used had to pay a mts backtracked but incomes between...
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Dec 11, 2012
12/12
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number three, we have the tax cuts, both the bush tax cuts and the obama tax cuts which have severely reduced the amount of revenue. the tax burden on americans from the federal government today is at an 80-year low. we simply cannot find the government with their revenues and the loss of jobs that we have. >> host: let me go back to you on that. is that true? >> the cbo has done a study. he got rid of all the current tax cuts, including the payroll tax cut, all parts of the biggest tax cut, not just the top level, and you have sequestration, so you actually have spending cuts, you could reduce that federal budget deficit to about 250- $300 billion in very short order. so this is a combination. we have had spending increases. let's not kid ourselves. we're coming of the worst. were spinning is dropping precipitously, and we're still running trillion dollar deficit. it's not all about the worst. it's about taxes and other spending. in the future let's not forget it will be in the social security and medicare and medicaid and all of which go into making ---financing around the end of th
number three, we have the tax cuts, both the bush tax cuts and the obama tax cuts which have severely reduced the amount of revenue. the tax burden on americans from the federal government today is at an 80-year low. we simply cannot find the government with their revenues and the loss of jobs that we have. >> host: let me go back to you on that. is that true? >> the cbo has done a study. he got rid of all the current tax cuts, including the payroll tax cut, all parts of the biggest...
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Dec 5, 2012
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on another tax problem, tax fund, yes cut through all the jews rate against -- [inaudible] but surely it needs to be more robust. if it is going to be a meaningful priority, let's say to coordinate against corporate tax conjuring, surely has to start a reason to think the controls -- that he made in the last budget. >> first of all can i thank him for the support he has given for the decision to provide ultrafast broadband, and i want to congratulate the city for a very, very good did which competed against other bids across the uk. he's also right to say that we are helping the northern islands energy sector with decisions on the carbon price which i detest a semi-statement to announce but are in the book. am glad he acknowledges those. any more broadly what i would say to him is northern ireland will benefit, the rest of uk will benefit when we help people and work hard and want to get on with doing that with personal allowance, when we help people who are small businesses with fuel duty, we're doing all these things making sure they are outlined to the northern ireland's. >> with i
on another tax problem, tax fund, yes cut through all the jews rate against -- [inaudible] but surely it needs to be more robust. if it is going to be a meaningful priority, let's say to coordinate against corporate tax conjuring, surely has to start a reason to think the controls -- that he made in the last budget. >> first of all can i thank him for the support he has given for the decision to provide ultrafast broadband, and i want to congratulate the city for a very, very good did...
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Dec 6, 2012
12/12
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tax. today this tax -- also known as the estate tax -- is set up at a top rate of 35%, with an exception for the first $5.1 million of the estate's value. well, those are the levels that congress set and the president agreed to in 2010. a republican house of representatives, democrat senate, as well as the president -- democrat in the white house. 2010. those are th levels are now setp dramatically to a top rate of 55% with an compe exemption fort the first $1 million. $1 million as you understands like a lot of money -- $1 million sounds like a lot of money until you start looking at family farms. farmers have a lot of assets such as land, buildings and livestock. those things are worth a lot of money for purposes of calculating the value of someone's estate. but they aren't liquid assets. you can't just spend a tractor. once a mom or dad dies in the farm family, the i.r.s. wants the death tax paid within nine months. the taxes collected -- though it is calculated on the big valuations fo
tax. today this tax -- also known as the estate tax -- is set up at a top rate of 35%, with an exception for the first $5.1 million of the estate's value. well, those are the levels that congress set and the president agreed to in 2010. a republican house of representatives, democrat senate, as well as the president -- democrat in the white house. 2010. those are th levels are now setp dramatically to a top rate of 55% with an compe exemption fort the first $1 million. $1 million as you...
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Dec 8, 2012
12/12
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eastern on c-span. >> in president obama's weekly address, he talks about tax policy, the tax cuts put in place by the previous administration that will expire at the end of the year. then the republican address on the economy, jobs, and education policy. >> hello, everybody. over the last few weeks, there's been a lot of talk about deadlines we're facing on jobs and taxes and investments. but with so much noise and so many opinions flying around, it can be easy to lose sight of what this debate is really about. it's not about which political party comes out on top, or who wins or loses in washington. it's about making smart decisions that will have a real impact on your lives and the lives of americans all across the country. right now, middle-class tax cuts are set to expire at the end of the year. time is running out. and there are two things that can happen. first, if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. a typical middle-class family of four would get a $2,200 tax hike. that would be bad for families, it woul
eastern on c-span. >> in president obama's weekly address, he talks about tax policy, the tax cuts put in place by the previous administration that will expire at the end of the year. then the republican address on the economy, jobs, and education policy. >> hello, everybody. over the last few weeks, there's been a lot of talk about deadlines we're facing on jobs and taxes and investments. but with so much noise and so many opinions flying around, it can be easy to lose sight of...
SFGTV: San Francisco Government Television
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Dec 2, 2012
12/12
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SFGTV
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with the property taxes it's 780,000 that is on going basis. it's not a small number and not as many commas in it but it will generate the general fund. we call out property taxes separately because in the greater context of pier 70 we may may look at a funding mechanism for this and even if we do that there is a fiscal benefits. there are benefits to special funds through the city. mta will get $70,000 a year and these special funds coming off property taxes, so that's the highlights. this is as we went over in october the potential revenue streams to the port over time. it could possibly range in our expected case that by 10 to 12 years out we are at $700,000 a year of rent but that depends how the cost and revenues bear out, so sorry -- our next steps here the board will endorse. we will keep refining the project. we will be back to you in early 2013 and get construction going and get people out there in the businesses. i am available for any questions. >> thanks. >> there is no action required today. the action was in october. >> okay. okay
with the property taxes it's 780,000 that is on going basis. it's not a small number and not as many commas in it but it will generate the general fund. we call out property taxes separately because in the greater context of pier 70 we may may look at a funding mechanism for this and even if we do that there is a fiscal benefits. there are benefits to special funds through the city. mta will get $70,000 a year and these special funds coming off property taxes, so that's the highlights. this is...
SFGTV: San Francisco Government Television
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Dec 2, 2012
12/12
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SFGTV
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also because of their credit, their ability and their experience, able to bring tax credit investor, equity investment which is a 20% of the project cost as another equity partner into this. and strong debt. so, because of that and the rent, we can draw the capital needed. it's managing the costs is going to be the challenge here, but we think we have the skills and the partner to move forward. as i said, this is the term sheet. this is laying out the framework that we dive into next is really digging into all the costs. really working through the engineering. and when we're back here next year, we're going to know more on answering that and showing you exactly where the numbers are coming from and how we're going to verify and control the costs. and then the last piece i'm about to step to is the structure of the deal here. this is a partnership deal. the port gets no revenue from these buildings now. in fact, we are a liability. we have problems out there. we could possibly document the loss of capital we've had from metal theft. but we are not asking for a guaranteed rent from the
also because of their credit, their ability and their experience, able to bring tax credit investor, equity investment which is a 20% of the project cost as another equity partner into this. and strong debt. so, because of that and the rent, we can draw the capital needed. it's managing the costs is going to be the challenge here, but we think we have the skills and the partner to move forward. as i said, this is the term sheet. this is laying out the framework that we dive into next is really...
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Dec 10, 2012
12/12
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a second pro-growth tax reform. on the supercommittee where i served, turned out to be not too super, we talked a lot about that. we actually had a lot of bipartisan agreement on that fact as we got into the details, it became harder. there are reasons it wasn't successful in the context which i think of nothing to do with the issue of tax reform. by to think out of the process we developed an understanding among some of us in the senate and house as to how we could get there, and certainly the two committees, ways and means committee, max baucus and dave camp, when you hear them talk about tax reform he will hear some very similar things. so i would hope that in this process we don't squander this opportunity to deal with the important issue of actually reforming unsustainable important but drivers of our long-term debt which is the entitlement side, but also make sure we do deal with the critical issue of making sure that we have pro-growth tax reform as part of the package. and again, i believe that there is enou
a second pro-growth tax reform. on the supercommittee where i served, turned out to be not too super, we talked a lot about that. we actually had a lot of bipartisan agreement on that fact as we got into the details, it became harder. there are reasons it wasn't successful in the context which i think of nothing to do with the issue of tax reform. by to think out of the process we developed an understanding among some of us in the senate and house as to how we could get there, and certainly the...
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Dec 8, 2012
12/12
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aside from all of us being willing to pay more taxes or having to pay more taxes, and staying in shape, what do you -- i would like you to expand on the idea of what individuals can do to be personally responsible to fix the debt? >> well, there's a short-term aspect and there's a long-term aspect in the short term, you know, we're going to have to fix it because we have postponed this so long and it's going to be a blend of taxes and entitlement changes. so the individual today is probably -- that's the best thing we can do, but i believe we have to speak our voice, because if we don't, this is going to come and fall down on us as a country and have worse consequences. but in the long run, for us to be effective, we have to get control over the entitlement prom. that doesn't mean we take entitlements away from people. we make it much more productive. and our goals an organization is to take our -- that responsibility on by lowering the health costs -- the cost of health care through innovative ways that doesn't push risk from one organization to another, which is what insurance compan
aside from all of us being willing to pay more taxes or having to pay more taxes, and staying in shape, what do you -- i would like you to expand on the idea of what individuals can do to be personally responsible to fix the debt? >> well, there's a short-term aspect and there's a long-term aspect in the short term, you know, we're going to have to fix it because we have postponed this so long and it's going to be a blend of taxes and entitlement changes. so the individual today is...
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Dec 4, 2012
12/12
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the nonpartisan tax policy center called it mat mathematicy impossible to give tax breaks to the rich without harming the middle class. this is something that former president clinton said during the campaign. it's arithmetic. given the choice between the millionaires and billionaires and the middle class, the republicans again sided with the wealthy of this country. their plan doesn't just keep rates low for the richest 2%, it actually lowers them further. the democrats' plan would protect 98% of families and 97% of small businesses from painful tax increases by asking the top 2% to pay a little bit more. the republicans' plan, on the other hand, is more of the same. not only does 2 balance the budget on the backs of the middle class, it voids our promise to seniors with steep cuts to social security and medicare, all to pay for even more handouts to the rich. at least we now know where they stand. republicans have sought to cover by invok invoking erskine bowle' name. he has disavowed their plan. we're glad to see the republicans join in the negotiating process. while their proposal
the nonpartisan tax policy center called it mat mathematicy impossible to give tax breaks to the rich without harming the middle class. this is something that former president clinton said during the campaign. it's arithmetic. given the choice between the millionaires and billionaires and the middle class, the republicans again sided with the wealthy of this country. their plan doesn't just keep rates low for the richest 2%, it actually lowers them further. the democrats' plan would protect 98%...
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Dec 6, 2012
12/12
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cuts get extended, the upper-income tax cuts go up. otherwise we don't get a deal and next year we come back in the thinking is the republicans will have more leverage because there will be another book on the debt ceiling will try to extract more concessions. i have to just tell you, that is a bad strategy for america. it's a bad strategy for businesses and it is not a game i will play. most of you are involved in discussions and watch the catastrophe that happen in august of 2011. everybody here is concerned about uncertainty. there's no uncertainty uncertainty that the prospect that the united states of america, the largest economy holds the worlds reserve current e. potentially default, do we give a basic notion that united states stands behind its obligations. we can't afford to go there again. this is just my opinion and the opinion of most of the books in my room. when i hear some on the other side suggesting to resolve the possibility of the perpetual court quarterly debt ceiling increases, the prices paid by the american peopl
cuts get extended, the upper-income tax cuts go up. otherwise we don't get a deal and next year we come back in the thinking is the republicans will have more leverage because there will be another book on the debt ceiling will try to extract more concessions. i have to just tell you, that is a bad strategy for america. it's a bad strategy for businesses and it is not a game i will play. most of you are involved in discussions and watch the catastrophe that happen in august of 2011. everybody...
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Dec 3, 2012
12/12
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when you find a perfect in the tax code it will have the 18 natural facets. >>host: i love the fact that the herkimer diamond mine is owned by a woman she is amazing. she is passionate6 c13 these beautiful stone and what she does.t the 2 stone we had a chance to catch up with rocker >> herkimer crystal is 500 million years old with the indirect route and in upstate new york formed it literally pushed silica salt and water and into the valley.crystallized into this little pocket.this is called a vug,andy commercially extract we tried to get something something larger than myself and the big pocket it lined with drusy. >>host: there you had it. there the science behind that it is fascinating and it is interestingtalk about these rocks that literally date back 500 million years. that is the outside and inside you have little pockets little cavities with the herkimer form in order for us to create the today's special you go through and sort only the best rough. this is best of the best. it top grade quality is not get better for a hardcover. if you are looking an
when you find a perfect in the tax code it will have the 18 natural facets. >>host: i love the fact that the herkimer diamond mine is owned by a woman she is amazing. she is passionate6 c13 these beautiful stone and what she does.t the 2 stone we had a chance to catch up with rocker >> herkimer crystal is 500 million years old with the indirect route and in upstate new york formed it literally pushed silica salt and water and into the valley.crystallized into this little pocket.this...
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the gop believes that the president wants to increase taxes to fund federal programs. >>... so he can spend to his heart's content. democrats and republicans are not coming together to solve this problem and gives you a sense of the cost involved in very personal terms. if they don't have confidence in law makers that will pull back into that would hurt the economy. a tea party hero is leaving capitol hill republicans stepping down next month to become director of the heritage foundation he was elected to the senate in 2004 and clashed on occasion with republican leaders of the legislation into the overall direction of the party. illinois republican u.s. senator mark kirk is preparing to return to capitol hill he will go back to january 3rd he suffered a stroke almost one year ago and he has had multiple surgeries including operations to reduce swelling around his brain. illinois lawmakers for planning a big party and a celebration when he heads back. the storm took a devastating toll on the east coast now damage estimates are taking a toll on federal emergency funds right n
the gop believes that the president wants to increase taxes to fund federal programs. >>... so he can spend to his heart's content. democrats and republicans are not coming together to solve this problem and gives you a sense of the cost involved in very personal terms. if they don't have confidence in law makers that will pull back into that would hurt the economy. a tea party hero is leaving capitol hill republicans stepping down next month to become director of the heritage foundation...
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john maynard discuss and the fiscal cliff and president barack obama suppresses his case today for a tax hike to help reduce the deficit. we are not insisting on rates just out of spite or any kind of partisan victory but rather because we need to raise a certain amount of revenue. >> and he made that pitch to several wealthy ceos he wants to raise taxes on the top 2 percent of income earners and he believes this will help raise the government's 16 trillion dollar debt coupled with spending cuts but the republican controlled house says the president has not responded to their latest proposal. >> i think we made a good-faith offer to avert the fiscal crisis and that offer included significant spending cuts and reforms and it included additional revenue and frankly it was the balanced approach mr. president has been asking for. erick kanter announced today there will be no adjournment into a credible solution to the fiscal cliff is found. >> house lawmakers proposed a bill today they claim will bring the costs under control and provide a safe retirement, it creates two groups of public emp
john maynard discuss and the fiscal cliff and president barack obama suppresses his case today for a tax hike to help reduce the deficit. we are not insisting on rates just out of spite or any kind of partisan victory but rather because we need to raise a certain amount of revenue. >> and he made that pitch to several wealthy ceos he wants to raise taxes on the top 2 percent of income earners and he believes this will help raise the government's 16 trillion dollar debt coupled with...
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lauren: we talked taxes. now let's former cbo director says these cuts fail to control the greatest deficit challenge, federal health care spending. >> the future path of mandatory has been clear for a decade now. it is largely driven by health care costs and baby boom and every cbo director come to the same conclusion. you can't grow your way out of it. you can not tax your way out of it. you must change these programs. >> democrats argue if the government cuts too much spending the economy will slow further. back to you. david: rich edson, thank you very much, rich. lauren: with all the uncertainty surrounding fiscal cliff should you invest differently right now? david: one economist says investors have to look beyond the fiscal crisis. we have senior economist at oppenheimer fund joins us now. more than that, what you say you've got the perfect split. -p60/40, 60 being equities and 40 being dot, dot, dot, something else. how do you devise, some people are gold bugs say it is all gold. cash bugs, say you ha
lauren: we talked taxes. now let's former cbo director says these cuts fail to control the greatest deficit challenge, federal health care spending. >> the future path of mandatory has been clear for a decade now. it is largely driven by health care costs and baby boom and every cbo director come to the same conclusion. you can't grow your way out of it. you can not tax your way out of it. you must change these programs. >> democrats argue if the government cuts too much spending...
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Dec 8, 2012
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we focused on wha tthe tax increase would mean to them. but it would also mean a great deal to the economy as well. it is estimated that this tax cut for the middle-class, if not passed, there will be $200 billion taken out of the economy next year. that will determine how many waitresses are working here, how many people -- how many sales persons there are when you see if you can help your sister with her car at. that will determine whether or not you have a job when you graduate. it is going to make a difference to your kids. they are struggling, working hard on their own. whether your son can go back and get his master's or save what he can to get back. that is going to affect economic growth. what we have going now -- there can be no debate. some of my very conservative friends continue to try to reject it is awful hard for them to accept compromise. the economy is beginning -- continuing to move. having met with all the stakeholders, we have met with a number of ceo's, a number of companies and small business people, labor community,
we focused on wha tthe tax increase would mean to them. but it would also mean a great deal to the economy as well. it is estimated that this tax cut for the middle-class, if not passed, there will be $200 billion taken out of the economy next year. that will determine how many waitresses are working here, how many people -- how many sales persons there are when you see if you can help your sister with her car at. that will determine whether or not you have a job when you graduate. it is going...
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Dec 8, 2012
12/12
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FOXNEWSW
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when he promised no new taxes. he broke the plij and he destroyed his political future. >> i guess strategically, tactically, my reaction to them is stand on your principles. that's why you were elected. part two is first of all, you have the debt ceiling coming up. they have a lot of power. they should never surrender their constitutional authority to the president. why don't they just pass their bill? give it to the president. extend all the bush tax cuts. would that be a good idea, or do you have a better idea? >> no. i think they should. i think the president will play because everybody now including, as you said, boehner himself is talking about the rich in sort of obama terms. obama will come back and say no, we're going to eliminate the tax cuts for the rich. we're just going to give them to the middle class, and that's where they're ahead in public opinion, but i think they're not going to have i any choice. republicans have to stick together. they have to resist the pressure of the white house, and if obam
when he promised no new taxes. he broke the plij and he destroyed his political future. >> i guess strategically, tactically, my reaction to them is stand on your principles. that's why you were elected. part two is first of all, you have the debt ceiling coming up. they have a lot of power. they should never surrender their constitutional authority to the president. why don't they just pass their bill? give it to the president. extend all the bush tax cuts. would that be a good idea, or...
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Dec 3, 2012
12/12
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how about you want a tax on junk food. >> we have it built to make sure many money so that the carbohydrate products in the market. we are giving the consumer the choice to choose what they want to consume. >> good food would cost less, sugary food would cost more. >> is orange juice and arm juice junk food? >> i don't think they are. >> they have more sugar than coke and pepsi. >> we will cross that bridge when we get there. i love my apples and like my orange. >> you also helped get these calorie counts posted at fast food places. >> that is correct. >> you go into mcdonalds you say this has this many calories. >> we have consumers making choices based on what they see. we have managed to see a wonderful number of decrease in people suffering from obesity and diabetes. >> it is decreasing? >> it is moving in that direction as mcdonalds and burger king are becoming to be more responsible. >> are real studies being done on this? put up the label tell us what the calorie count is. nyu went into the fast food places your law went into effect and people said yeah it's great we can see the calo
how about you want a tax on junk food. >> we have it built to make sure many money so that the carbohydrate products in the market. we are giving the consumer the choice to choose what they want to consume. >> good food would cost less, sugary food would cost more. >> is orange juice and arm juice junk food? >> i don't think they are. >> they have more sugar than coke and pepsi. >> we will cross that bridge when we get there. i love my apples and like my...
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Dec 7, 2012
12/12
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labor higher than we tax capitol. the republicans believe it does, they believe the higher you tax something the more you are discouraging it. there is bill crystal asking why do we want to tax labor more than capitol? that is the question. >> it is interesting. you are are seeing rank and file members of the party. you are starting to see the troops fall away. what would happen if for instance the senate bill were to be voted on in the house? >> they want to do it. and it would pass. we would have to get into these other questions. >> polls favoring the president in his approach and the outcome that he wants. and the polls i don't think that rush are limbaugh is reading those polls. >> there is no way to come to an agreement. the only thing that can happen is for one side to cave in. this is being realistic. there is no common ground here. there is no bipartisanship to be had. it ain't going to happen. there is no compromise. none. there is only concession. and that is what will happen. when rush doesn't want to soun
labor higher than we tax capitol. the republicans believe it does, they believe the higher you tax something the more you are discouraging it. there is bill crystal asking why do we want to tax labor more than capitol? that is the question. >> it is interesting. you are are seeing rank and file members of the party. you are starting to see the troops fall away. what would happen if for instance the senate bill were to be voted on in the house? >> they want to do it. and it would...
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Dec 6, 2012
12/12
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CNBC
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>> the tax code says sell apple. if you own it in a taxable account, i feel you've been given a fantastic opportunity to pay a lower tax rate on your profits than you will in a few week's time. given that i think many people own apple in their taxable or "mad money" accounts, it might be in the cross hairs of the fiscal cliff. you combine the greatest capital gains generator out there of all time in the change of tax code of uncertain proportions, it's almost impossible to justify not selling. those people then impact the chart and the chart is signaled code red and causes the institutions to worry that, perhaps, the stock can bring down the performance, which brings in still more selling. >> sell, sell, sell! >> it's a vicious cycle down. it makes a ton of sense. let's talk about what can happen here. year end, 2013, it will be too late to sell to get the tax break. we'll find out, i believe, that apple's ipad sales are through the roof, including the mini, the iphone will have bigger sales than thought in the u.s.
>> the tax code says sell apple. if you own it in a taxable account, i feel you've been given a fantastic opportunity to pay a lower tax rate on your profits than you will in a few week's time. given that i think many people own apple in their taxable or "mad money" accounts, it might be in the cross hairs of the fiscal cliff. you combine the greatest capital gains generator out there of all time in the change of tax code of uncertain proportions, it's almost impossible to...
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Dec 10, 2012
12/12
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WGN
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president obama hits the road to talk taxes to union workers. after holding a private meeting with the speaker of the house. investigators are looking into the cause of a plane crash that killed a popular mexican- american singer. and the d-j's behind a prank call to the hospital treating kate middleton are speaking out for the first time. tre r anitngis wait till your kids move back home after college. we were going through so much of the bargain detergent. and the clothes didn't look as good. but since we switched to tide we use much less. an amazing clean for all three of our full-grown dependent bundles of joy. that's my tide what's yours? president obama is scheduled to speak to a crowd at a suburban detroit auto plant this hour. white house officials are calling it "an event on the economy". it comes a week after michgan republicans got a controversial right-to-work law passed a measure the president opposes for its limitations on unions. yesterday, president obama met with house speaker john boehner at the white house to discuss how to re
president obama hits the road to talk taxes to union workers. after holding a private meeting with the speaker of the house. investigators are looking into the cause of a plane crash that killed a popular mexican- american singer. and the d-j's behind a prank call to the hospital treating kate middleton are speaking out for the first time. tre r anitngis wait till your kids move back home after college. we were going through so much of the bargain detergent. and the clothes didn't look as good....
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Dec 2, 2012
12/12
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it's taxes. taxes. okay, you can say taxes. when you separate taxes from revenue, we are going to raise revenue, not taxes, you get strange things, it seems. there's all sorts of privatization. take the highway, we are going to sell it to you. lease it back and get a one-time payment from that. this is something that's happening right now in baltimore that i think is pretty fascinating. take a look. >> i thought it was idiotic. why do we want to look like nascar? look like a bus going down the street. after the shock wore off, this shows how far we have to go to think outside of the box. >> reporter: chicago sold ad space on iconic bridges to bank of america. philadelphia rented out a transitation to at&t. brazil indiana let kfc advertise on fire hydrants. >> baltimore, in case that wasn't there, they are selling ad space on fire trucks. were you tempted? was there anything you were thinking of putting up on the auction block? >> we are not purists. you know, you see things get named from time-to-time. those are extremes. those
it's taxes. taxes. okay, you can say taxes. when you separate taxes from revenue, we are going to raise revenue, not taxes, you get strange things, it seems. there's all sorts of privatization. take the highway, we are going to sell it to you. lease it back and get a one-time payment from that. this is something that's happening right now in baltimore that i think is pretty fascinating. take a look. >> i thought it was idiotic. why do we want to look like nascar? look like a bus going...
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Dec 7, 2012
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we talk about the state capital which was tax -- 74% tax exempt. a lot of it was a result of the state taking over a large percentage of our city. a lot of it was non for profits. i have had a good working relationship with people in the state governments. it is good to have them close. i can see what they're doing and to buy and put and see what i can do for the people of the city. [captions copyright national cable satellite corp. 2012] [captioning performed by national captioning institute] host: we turn our attention to unemployment insurance and how it can be impacted. joining us for the discussion is josh . caller: it is a combination of a federal and state program. it usually lasts -- it can be extended up to 93 weeks. it is the extension be on the six month time frame we're talking about as part of the fiscal cliff tops. host: that is what might be caught -- cut? guest: that is what automatically expires. president obama has said as part of the deal i want to make, the benefits should continue. republicans have not taken a firm stand. we ha
we talk about the state capital which was tax -- 74% tax exempt. a lot of it was a result of the state taking over a large percentage of our city. a lot of it was non for profits. i have had a good working relationship with people in the state governments. it is good to have them close. i can see what they're doing and to buy and put and see what i can do for the people of the city. [captions copyright national cable satellite corp. 2012] [captioning performed by national captioning institute]...
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Dec 7, 2012
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you do the makth, that comes ou to $520 a week before taxes, $26,000 for the year. if you can't live on that, how are you living on unemployment at $450 or $500 a week? for a lot of manufacturers, they're frustrated that they can't bring people $13 an hour, then walk them up the pay scale to $20 or $25 an hour. >> phil will join me in this conversation. mercedes-benz usa posting an all-time sales record with november sales of over 32,000 units. joining us in the "power lunch" exclusive, steve canyon, mercedes-benz usa's president and ceo. phil will pick up on the auto questions but i'd like to talk to you about the economy in general. your company has such an interesting footprint in the united states. you are hitting an all-time sales record, yet people are still worried about the economy. tell us how business is and how you view the economy right now. >> business for us is great. we're going to set an all-time record. in fact we'll finally surpass our all-time high in 2007. in 2007 just before the recession, that's when the auto market was around 17 million units.
you do the makth, that comes ou to $520 a week before taxes, $26,000 for the year. if you can't live on that, how are you living on unemployment at $450 or $500 a week? for a lot of manufacturers, they're frustrated that they can't bring people $13 an hour, then walk them up the pay scale to $20 or $25 an hour. >> phil will join me in this conversation. mercedes-benz usa posting an all-time sales record with november sales of over 32,000 units. joining us in the "power lunch"...
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Dec 9, 2012
12/12
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the fiscal cliff will result in tax increases and federal spending cuts. >> both parties are kind of, hey, i'm going to do my thing, you're going to do your thing, nobody seems to want to give in. they're going to have to because this country's in a dire situation. >> many shoppers agree, as tax paying citizens, one of the top things on their wish list for christmas is for the president and congress to compromise and to get a deal done. >> please start working together and remember the people who put you in office. >> nadia ramdass, wbal-tv 11 news. >> jews around the world celebrated the beginning of eight-day hanukkah festival saturday evening by lighting the candles of the ceremonial lamps. in chicago, hundreds gathered to watch the lighting of an eight-foot menorah. also known as the festival of lights. hanukkah commemorates the jewish uprising in the second century b.c. against the greek syrian kingdom. the holiday lasts eight days. according to tradition, when the jews rededicated the temple in jerusalem, a single vial of oil burned for eight days. and here in baltimore, some pe
the fiscal cliff will result in tax increases and federal spending cuts. >> both parties are kind of, hey, i'm going to do my thing, you're going to do your thing, nobody seems to want to give in. they're going to have to because this country's in a dire situation. >> many shoppers agree, as tax paying citizens, one of the top things on their wish list for christmas is for the president and congress to compromise and to get a deal done. >> please start working together and...
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Dec 6, 2012
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pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being the expiration of the bush tax cuts at the end of this year. to some extent, now they're getting to the real deadline and it is more serious. host: have you written one of the, if we go over the cliff, this is what happens-type article? guest: yes. people would probably start feeling it in their paychecks pretty quickly. never mind what it means to the broader economy. it will hit. it will hurt a lot of people. if we did not change the law and it went one month, two months, three months, it could lead to another recession because there be such a sharp drop in people's incomes and it would be s
pays a lot of money in payroll taxes and sales taxes and state and local taxes and property taxes. it adds up even if they're not paying income tax. host: how would you compare the current talks to july 2011 and the debt limit, fiscal cliff, sequestration -- guest: the debt limit talks definitely set the stage for this. they were not completely without value. i get the sense it is a lot more serious now. it has almost been like a year- and-a-half long negotiation. with the real deadline being...
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the tax man is coming and he wants to tax everything. there's a long list of everything where the left wants to raise the tax take as of now, monday morning, centers on tax hikes, not spending cuts and certainly not entitlement reform. first to secretary geithner to him and the president, it's all about pushing the republicans to accept tax hikes. >> you know, i can't promise that. that's a decision that lies in the hands of republicans that are now opposing increase in tax rates. if they recognize the reality that we can't afford to extend those tax rates then we have the basis for an agreement for the american people. stuart: other voices on the left are chiming in with tax suggestions and ralph nader says he wants a tax on every single financial transaction including stock trades and he calls it a speculation tax. an editorial in the washington post today calls for an end or at least limits on the deductible for charitable deductions. overwhelmingly the deduction benefits of the wealthy and the rest of the country has to make up the g
the tax man is coming and he wants to tax everything. there's a long list of everything where the left wants to raise the tax take as of now, monday morning, centers on tax hikes, not spending cuts and certainly not entitlement reform. first to secretary geithner to him and the president, it's all about pushing the republicans to accept tax hikes. >> you know, i can't promise that. that's a decision that lies in the hands of republicans that are now opposing increase in tax rates. if they...
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after the other 98%, that means energy tax, gasoline tax. the president talked about cover tax, all those things on the self next year. >> it hits everyone. steve moore, always great to have you. >> great to be with you. >> regulating water. it may sound strange but the government says water could be a pollutant and based on epa regulations it could cost homeowners their private property. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. what's in your wallet? >>> do you know water could be classified as a pollutant. if the epa thinks there's too much in your neighborhood they can take away your home, flatte
after the other 98%, that means energy tax, gasoline tax. the president talked about cover tax, all those things on the self next year. >> it hits everyone. steve moore, always great to have you. >> great to be with you. >> regulating water. it may sound strange but the government says water could be a pollutant and based on epa regulations it could cost homeowners their private property. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50%...
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Dec 5, 2012
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megyn: capital gains tax rate is different from the income tax rate in this country. on social security he a lower rate -- [talking over each other] megyn: president clinton lowered the capital gains rate. there is no correlation between its relation to investment income and earn income. megyn: why demonize the rich? the mortgage meltdown was a nightmare. but why demonize all of the rich? >> i hope to be rich one day. i aspire to. i would love to be a billionaire. i think people have admiration for the ones who follow the rules and who actually earn what they may. but when someone basically sits on their assets and gets 13.9% of the tax rate, i think that frustrates people. megyn: but that is legal. are you saying it's morally wrong? [talking over each other] [talking over each other] >> not at all. it is legal. but the law is asinine. there is no reason why it should be taxed. >> c-1 government enforcement of the tax code as equalization for everybody? [talking over each other] [talking over each other] >> you believe someone should earns $40 billion year should pay
megyn: capital gains tax rate is different from the income tax rate in this country. on social security he a lower rate -- [talking over each other] megyn: president clinton lowered the capital gains rate. there is no correlation between its relation to investment income and earn income. megyn: why demonize the rich? the mortgage meltdown was a nightmare. but why demonize all of the rich? >> i hope to be rich one day. i aspire to. i would love to be a billionaire. i think people have...
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and he's raised tax rates and he was elected based on his tax the rich policy. he says that america is poised to take off and if it doesn't, it's the republicans fault. listen. >> you have the u.s. chamber of commerce hardly an arm of my administration or the democratic party. i think, said the other day, we can't be going through another debt crisis, a debt ceiling crisis like we did in 2011. that has to be dealt with. so, i think businesses are going to be ready to hire. we're seeing pretty strong consumer confidence despite weaknesses in europe and even in asia. i think america is poised to take off. stuart: well, the republicans are set to respond today when speaker boehner goes in front of the cameras. will he show signs of retreat or any sign of compromise? remember, the president wants higher tax rates. will john boehner try to move the line that the president has drawn? we will have it for you live here on "varney & company" starting around ten o'clock eastern. then we have darden restaurants, the parent of olive garden, red lobster. it says its business
and he's raised tax rates and he was elected based on his tax the rich policy. he says that america is poised to take off and if it doesn't, it's the republicans fault. listen. >> you have the u.s. chamber of commerce hardly an arm of my administration or the democratic party. i think, said the other day, we can't be going through another debt crisis, a debt ceiling crisis like we did in 2011. that has to be dealt with. so, i think businesses are going to be ready to hire. we're seeing...
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largest tax cut company in the world. australia had a really strong tax season. a loss of $0.39 a share. they do typically take a loss in this particular quarter because it is not the most busy time for doing taxes. they said they are very optimistic heading into the tax season. this stock looking pretty good. up 3.5%, up 10% for the year. connell: thank you very much. dagen: they were in love and then they weren't, with apple. they have gone gold, investors. for good. connell: cheryl and dennis are coming up to take over coverage with the latest on apple and whether investors have already seen their best days with the stock. i don't know. we will be right back. ♪ mac i am cheryl casone. dennis: i am dennis kneale. apple shares are higher after selling off for days. investors bailing out and taking a big capital gains before higher taxes. is there more at work here? have we fallen out of love with the beloved land? cheryl: plan layoffs increasing for the third straight month. tomorrow we need to look at the big number, the government number. coming up a unique
largest tax cut company in the world. australia had a really strong tax season. a loss of $0.39 a share. they do typically take a loss in this particular quarter because it is not the most busy time for doing taxes. they said they are very optimistic heading into the tax season. this stock looking pretty good. up 3.5%, up 10% for the year. connell: thank you very much. dagen: they were in love and then they weren't, with apple. they have gone gold, investors. for good. connell: cheryl and...
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Dec 3, 2012
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there was a contrast of ideas over what we do with our tax code and how we reform our tax code. and at the even of the date president got millions more in the popular vote than romney because americans think by and large their wealthier neighbors and wealthier americans should be paying a fairer share. it's not fair when you have the wealthiest among us paying a lower effective tax rate. megyn: is the media -- the media has been focused on the tax hikes and whether president obama is going to get them and not focused on spending cuts. is that because the republicans and the president agree the middle class needs those tax cuts and should get them. the only thing they disagree on is whether the rich should also have tax cuts given to them. the left is say we agreet middle class should get the tax cuts. so let's give them to them. >> you are comment is largely right. the republicans have gone along in a bipartisan manner with the idea there has to be revenue. the speaker has put forward a framework in which he agrees there should be $800 billion of revenue on the table. the proble
there was a contrast of ideas over what we do with our tax code and how we reform our tax code. and at the even of the date president got millions more in the popular vote than romney because americans think by and large their wealthier neighbors and wealthier americans should be paying a fairer share. it's not fair when you have the wealthiest among us paying a lower effective tax rate. megyn: is the media -- the media has been focused on the tax hikes and whether president obama is going to...
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tax rates. it may be just tax rates higher for those making half a million a year, i think they'll retreat a little bit. >> i think, too, what i'd like to see the republicans do, i'd like to see them pass a bill extending tax cuts below $250,000 and everyone agrees those should be put through and then put through another bill that extends the tax cuts on those $250,000 and above and let the democrats take ownership because you know, they're going to be held responsible for the economic performance of 2013 and come 2014, you can actually get a political change that might make a difference. stuart: we'll wait and see on that one. art laffer, always a pleasure. >> bye now. stuart: the republicans submit their fiscal cliff solution. now, that plan put out by speaker boehner, includes 800 billion dollars in extra tax revenues and that would come from limiting deductions and not from higher tax rates. and there would also be 1.2 trillion dollars worth of spending cuts and the white house immediately d
tax rates. it may be just tax rates higher for those making half a million a year, i think they'll retreat a little bit. >> i think, too, what i'd like to see the republicans do, i'd like to see them pass a bill extending tax cuts below $250,000 and everyone agrees those should be put through and then put through another bill that extends the tax cuts on those $250,000 and above and let the democrats take ownership because you know, they're going to be held responsible for the economic...
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Dec 9, 2012
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the goal should be to justify new tax payers, not new taxes. regulations are needed, but they cost money to follow. the more expensive regulation is, the less money a business has to give raises or hire new people. we must not let innovation go to waste. we have the potential for all kinds of middle-class jobs from the fields and platforms where we draw to the manufacturing plants that will return to the united states with lower-cost of energy. we need americans to encourage these opportunities, not continue to block them. by making the future value of a dollar more predictable. we must put the cost of health insurance under control. you should be able to get a health control -- a health-care plan with the same tax benefit if you buy it for yourself or if an employer buys it for you. host: the analysis of david hocking. our question is, what do you think the president impose a number one priority should be a dangerous account term. this is from our twitter page. next is austin from illinois on the republican line. caller: i think it marker rubi
the goal should be to justify new tax payers, not new taxes. regulations are needed, but they cost money to follow. the more expensive regulation is, the less money a business has to give raises or hire new people. we must not let innovation go to waste. we have the potential for all kinds of middle-class jobs from the fields and platforms where we draw to the manufacturing plants that will return to the united states with lower-cost of energy. we need americans to encourage these...
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let's take a closer look at california's tax rate. the top individual tax rate was 10.3%. the second highest in the nation. due to a new proposition that was just passed that number is going to jump to 13.3% for top earners. perhaps this sentiment seems to be working in the golden state. which also has a corporate tax rate of 8.84%. which is why you don't see companies clamoring to open businesses in the state. pill * a lot of debt. martha: mr. grant from the "mary tyler moore show"? he voiced over that. he lives in france. bill: new concerns the u.s. is running out of doctors at a time when obama-care will put millions of americans into the system. our fox news medical a-team doctor on what needs to happen there. martha: they were trapped under a car struggling to breathe and split second heroics saved theof lives of her mother and child. of pepto-bismol to-go. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tour
let's take a closer look at california's tax rate. the top individual tax rate was 10.3%. the second highest in the nation. due to a new proposition that was just passed that number is going to jump to 13.3% for top earners. perhaps this sentiment seems to be working in the golden state. which also has a corporate tax rate of 8.84%. which is why you don't see companies clamoring to open businesses in the state. pill * a lot of debt. martha: mr. grant from the "mary tyler moore show"?...
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Dec 4, 2012
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tax. >> anyone want to weigh in on these? david, i see you smiling down there. >> i was waiting for judd to jump in. he is the one that convinced me. >> ultimately, i think have gotten more than they can handle. the revenue targets the needs to reach, the spending targets they need to reach now knocked enormous, but if you look down the road, in particular at health care spending, given the discussion we had before, we can do everything we want to try to control health-care spending, but another way to help control health care spending is earmarked a value-added tax toward revenue which would have an immediate link between how much was spent, how much people have to pay in taxes, it would eliminate their repressivity of that, and it would inoculate the deficit from uncertainty about health-care reform. health care reform will take a long time. it is more complicated than tax reform. we have had one major tax reform in the last 50 years, thanks to senator packwood and others. we cannot wait
tax. >> anyone want to weigh in on these? david, i see you smiling down there. >> i was waiting for judd to jump in. he is the one that convinced me. >> ultimately, i think have gotten more than they can handle. the revenue targets the needs to reach, the spending targets they need to reach now knocked enormous, but if you look down the road, in particular at health care spending, given the discussion we had before, we can do everything we want to try to control health-care...
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Dec 9, 2012
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more boehner has proposed that in tax reform. it kind of looks like that raising taxes on the wealthy. that means the president which has laid down a substantive plan has to address spending cuts. we need about two dollars in spending cuts for every dollar in tax increases and it has to include entitlement reform. he has talked about different index inflation for social security and raising the age of medicare. that is the grand bargain that we need to do so we stop the negotiation and come to the principle compromise so we have a sustainable debt to g.d.p. ratio so our economy grows. that is what the compromise should the have to do and tax reform and entitlements and raising marginal tax rates. >> heather: do you think compromise is in progress in terms of the meeting today? >> any time the parties are talking face to face and not picking up the phone and having short conversations is a good thing. occasionally a deal gets done. we've been down this road before. boehner thought he had a deal with the president and president tho
more boehner has proposed that in tax reform. it kind of looks like that raising taxes on the wealthy. that means the president which has laid down a substantive plan has to address spending cuts. we need about two dollars in spending cuts for every dollar in tax increases and it has to include entitlement reform. he has talked about different index inflation for social security and raising the age of medicare. that is the grand bargain that we need to do so we stop the negotiation and come to...
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Dec 7, 2012
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be a delayed start to 2013 tax season. in programming its systems, the irs considered the congress would patch the amt. without another patch, the amt could hit as many as 33 million people for the 2012 tax year and it will take them some time to reset all of those forms. >>> and squawk is in session thorn with congressman peter roskam, member of the ways and means committee. thanks for joining us. >> good to be here. >> one of your quotes is that house republicans are prepared to get the yes, but not prepared to get to foolish. and 1.6 you would think is foolish. 800 people think maybe that's doable. could it just look like this, i'll cut to the chase, we go up -- we start at 500,000 and above. we go up 2 percentage points to 37 and do a couple things on deductions that are politically possible to do to get to a trillion dollars. if the president were to come down to a trillion, could we go up -- would republicans go up to a trillion in that. >> i'll give you a straight hans, but inhan answer, but in a minute. let me get
be a delayed start to 2013 tax season. in programming its systems, the irs considered the congress would patch the amt. without another patch, the amt could hit as many as 33 million people for the 2012 tax year and it will take them some time to reset all of those forms. >>> and squawk is in session thorn with congressman peter roskam, member of the ways and means committee. thanks for joining us. >> good to be here. >> one of your quotes is that house republicans are...
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Dec 4, 2012
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this is the tax revenue, this would be the new taxes. this would be done by closing loopholes, limiting deductions, not, obviously, by increasing income tax rates for the wealthy. $600 billion in health savings. that's the entitlement reform. that's medicare cuts. cuts to other entitlements. compare this to the white house, $1.6 trillion in new taxes, so that's two times the amount in speaker boehner's counteroffer. and $400 billion in cuts to medicare and entitlements. so that's $200 billion less than speaker boehner's. also something in here that the white house has proposed as a nonstarter for house republicans was having congress give up their debt limit vote. the white house is call being speaker boehner's counteroffer not serious. they're saying there needs to be specifics. but i will tell you that democratic leadership made in a moment of i guess you could say truth, that it does pass the last test. obviously democrats don't like it but it certainly could have more things in it that they don't like. so maybe it's not, as far as a
this is the tax revenue, this would be the new taxes. this would be done by closing loopholes, limiting deductions, not, obviously, by increasing income tax rates for the wealthy. $600 billion in health savings. that's the entitlement reform. that's medicare cuts. cuts to other entitlements. compare this to the white house, $1.6 trillion in new taxes, so that's two times the amount in speaker boehner's counteroffer. and $400 billion in cuts to medicare and entitlements. so that's $200 billion...
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Dec 10, 2012
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estate taxes going away. put the real estate into the kids' i mean, these are the litany of the fiscal cliff discussions. they start with capital gains. please take your capital gains. please take them. what if people have capital gains? what's the stock they own in their individual account? not their i.r.a.? or 401(k)? it's apple. every one of these guys are telling you that. it's the way the discussion starts. people have to understand, that's how it happens. >> and the buyback next year, increase your cost basis, whatever may be trading at that point. there's no loss for investors. there's only the possibility of gain if they're facing a higher tax rate. >> like the special dividends, making it clear they're not interested in that. >> that's right. >> i think -- unless you have a complex tax return, you may not realize that there's this investment advice that flows through from professionals. you don't want to upset them, because they're better than you. they see thousands of clients. you just do it. you d
estate taxes going away. put the real estate into the kids' i mean, these are the litany of the fiscal cliff discussions. they start with capital gains. please take your capital gains. please take them. what if people have capital gains? what's the stock they own in their individual account? not their i.r.a.? or 401(k)? it's apple. every one of these guys are telling you that. it's the way the discussion starts. people have to understand, that's how it happens. >> and the buyback next...
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raise tax revenue capping deductions, limiting loopholes, not raising tax rates. >> if you listen to the president's entire statement he said as part of a larger tax reform proposal. the fact is you can't get the revenues that are necessary simply by eliminating deductions, unless you want to whack the middle class, and that's not something we can afford to do now. let's also make the point, wolf, that everyone in america will benefit if we extend the tax cuts for, incomes under $250,000. you get the tax cut the first $250,000. but if we're going to deal with the debt problem, we have to do it in a balanced way. raising rates is part of what we need to do. >> one of the things republicans would tell you, when we created the bush tax cuts for everyone, including the wealthy, government revenues went up from 1.8 trillion to 2.5 trillion. >> 2001 and 2003? >> over a four-year period after bush tax cuts were put in place. why not stay with that, keep the economy growing. that's $700 billion in additional revenue. >> the whole thing could collapse. >> it is something we need to figure --
raise tax revenue capping deductions, limiting loopholes, not raising tax rates. >> if you listen to the president's entire statement he said as part of a larger tax reform proposal. the fact is you can't get the revenues that are necessary simply by eliminating deductions, unless you want to whack the middle class, and that's not something we can afford to do now. let's also make the point, wolf, that everyone in america will benefit if we extend the tax cuts for, incomes under $250,000....